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NRI Family Banking

Family Banking is a product in which individual members of a family can group their respective relationships (Savings Account, Fixed Deposit, Recurring Deposit) under a single ID called Family ID to cater the whole Family Banking needs.

 

Help your entire family enjoy the advantages of our special services through Family Banking. Family member can be both NRI or Resident Indian customer. All you have to do is link your family members’ accounts with your Pro or Premia Account.

 

Benefits of Family Banking

A single bank to all members in the family
Access to same privileges and benefits for the entire family
Lower minimum balance requirement at individual customer level
Flexibility to maintain balances across account
Single Relationship Manager to manage entire family’s banking needs

 

Variants of Family Banking

Pro Family

Pro Account benefits to NRI family members and resident Titanium Account benefits to resident family members.

Premia Family

Premia Account benefits to NRI family members and resident Wealth Account benefits to resident family members.


Click Here for Terms and Conditions.

 

Eligibility

  • Primary member should be NRI Pro or Premia Account holder (existing or new)
  • All members should have ICICI Bank Savings Account
  • Minimum two and maximum six members can form a Family Banking relationship with ICICI Bank
  • Family members include parents, spouse, children, grandparents, grand children, in-laws and siblings

The minimum Monthly Average Balance (MAB) requirement for a Family ID is defined at the family level instead of Individual Customer ID level. The minimum MAB to be maintained by the family is as follows:

 

Family type

Pro Family

Premia Family

Minimum balance requirement

INR <2> lakh at Account level (all Savings Accounts under Family ID)
OR
INR <10> lakh at Customer ID level (all Savings Accounts + FDs + RDs under Family ID)

INR <10> lakh at Account level (all Savings Accounts under Family ID)
OR
INR <30> lakh at Customer ID level (all Savings Accounts + FDs + RDs under Family ID)

 

In the event of non-maintenance of FMAB consecutively for months, Family ID shall be dissolved.

How to apply?

To apply for Family Banking, primary member can approach us through the below channels:

 

Frequently Asked Questions (FAQs)

What is NRI Family Banking?


Family Banking is a product in which individual members of a family can group their respective relationships (Savings Account, Fixed Deposit, Recurring Deposit) under a single ID called Family ID to cater the whole Family Banking needs. For NRI Family Banking, primary member (requestor) shall be an NRI customer only.

What is minimum Monthly Average Balance (MAB) required to be maintained by the family?


The minimum Monthly Average Balance (MAB) requirement for a Family ID is defined at the family level instead of Individual Customer ID level. The minimum MAB to be maintained by the family is as follows:

Family type

Pro Family

Premia Family

Minimum balance requirement

INR <2> lakh at Account level (all Savings Accounts under Family ID)
OR
INR <10> lakh at Customer ID level (all Savings Accounts + FDs + RDs under Family ID)

INR <10> lakh at Account level (all Savings Accounts under Family ID)
OR
INR <30> lakh at Customer ID level (all Savings Accounts + FDs + RDs under Family ID)

Can a resident Indian account holder give request for NRI Family Banking?


No. Only NRI primary customer can give the request for NRI Family Banking with an exception of minor and Salary Accounts.

Can a joint applicant in NRI Account request for NRI Family Banking?


No. Only NRI primary account holder can place a request for NRI Family Banking in case of joint account.

Which accounts are eligible to be grouped under the Family ID as a family member?


Only NRI Savings Account, Resident Savings Account, Salary Account and Minor Savings Account can be a part of NRI family with the exception of ‘No Frills’ and Hindu Undivided Family ‘(HUF)’ Accounts.

Can I upgrade the Family ID to Premia family later


Yes. The primary member can sign the Family Banking Application Form and upgrade the family to Premia family. No fresh funds are required for this, but the MAB as per the Premia family needs to be maintained. To upgrade from Pro family to Premia family, primary member under the Family ID is required to be Premia Account holder.

Can I downgrade the Family ID to Pro family later?


Yes. The primary member can sign the Family Banking Application Form and downgrade to Pro family.

What are the variants available under NRI Family Banking?


NRI Family Banking is available in two variants:

  • NRI Pro Family
  • NRI Premia Family

What are the minimum and maximum number of members that can be added under NRI Family Banking?


A minimum of <2> and a maximum of <6> members of a family can form a Family ID.

Which account holder can be the primary member in Family ID?


Any among NRI Pro or NRI Premia Account holder can be the primary member in Family ID, except minor or Salary Account holder.

Can a resident family member be added under NRI Family ID?


Yes. For Pro Family, resident member will get the benefits of resident Titanium Account and for Premia Family, resident member will get the benefits of resident Wealth Account.

Can an NRI family member be added under NRI Family ID?


Yes. For Pro Family, NRI member will get the benefits of Pro Account and for Premia Family, NRI member will get the benefits of Premia Account.

Which relation types can be grouped under Family ID?


Family members including parents, spouse, children, grand-parents, grand children, in-laws, and siblings of the Primary ID holder can be linked under the same Family ID.

Can a family member be grouped later?


Yes. Primary account holder can fill the form and give the request later.

Can any member of the Family ID leave the group later?


Yes. The benefits under the Family Banking facility shall be cancelled and the account status of such family member(s) shall be changed to Regular Savings Account which can be upgraded to a higher variant through a separate request. However, if primary member leaves the group, Family ID will be dissolved and the account status will be changed to Regular NRI Account.

From which account under the Family ID will the charges be collected in the event of non-maintenance of Monthly Average Balance in Primary member’s account?


In the event of non-maintenance of FMAB consecutively for <3> months, Family ID shall be dissolved. However, a reminder e-mail will be sent to the primary member every month within <3> months’ duration. Once the Family ID stands dissolved, the benefits under the Family Baking facility shall be cancelled and the account status will be changed to regular Savings Account which can be upgraded to a higher variant through a separate request.

What are the banking relationships with ICICI Bank that can be linked under the Family Banking relationship?


Members of a family can group their deposit relationships with ICICI Bank under a single Family ID which includes the Savings, Fixed Deposit and Recurring Deposit Accounts.